$29,000,000 underlying mortgage for a 30-story, 171-unit cooperative in Fort Lee, NJ

Winter & Company worked with the board of this 30-story, 171-unit Fort Lee, New Jersey co-op to refinance an existing 3.25%, $28,000,000 underlying mortgage nearing the end of its term, and seeking to pro-actively lock in a 3.13%, 10-year, interest-only mortgage to give the co-op financial stability and predictable mortgage payments for the next 10 years. The co-op, which overlooks the Hudson River with views of the George Washington bridge has recently completed a major series of capital improvement projects. Surplus proceeds of the refinancing will augment the co-op’s reserve fund.